Real estate company partners with Safari Energy to develop solar portfolio
Nuveen Real Estate, one of the largest real estate managers in the world, has announced a partnership with Safari Energy to develop the company’s own solar energy sources. Nuveen has committed to make all existing and future assets carbon neutral by 2040 and aims to offset 90% of its energy consumption with solar energy.
“Having a partner like Safari Energy supports our goal of integrating ESG considerations into our investment decisions and business plans, moving forward toward our net carbon neutral milestones,” said Jessica Long, U.S. real estate chief of sustainability. at Nuveen. “Our teams need to quickly know if there is an opportunity for solar energy during the closing of transactions and asset managers are looking for ways to involve potential tenants in lease negotiations. Safari provides us with the expertise and immediate feedback that are essential in the rapid real estate investment process.”
Nuveen began working with Safari Energy in 2020, when more than 300 MW of solar potential was identified on its property. Since then, Safari Energy has embarked on two projects at Nuveen properties, including a rooftop solar system being built at an industrial facility in Nashville, Tennessee, and a hybrid solar + battery storage system being added to a property in Redlands, California.
Safari Energy takes a strategic and systematic approach to the development of solar energy. An initial property screening is being conducted by Safari Energy’s proprietary artificial intelligence platform. This enables the team to identify ideal sunroofs, parking lots, parking deck and ground-mount options.
Nuveen also has access to a custom technology platform designed by Safari Energy, which integrates multiple systems and keeps different teams in sync with tasks. Safari Energy works directly with Nuveen’s asset managers and tenants to coordinate permits, construction schedules and project statuses.
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